Aviva Investors has acquired the Adriana Infrastructure CLO from its existing owner to expand its infrastructure debt and securitisation business in the UK and Europe.

The transaction involves Aviva Investors acquiring the Adriana Infrastructure CLO, a securitisation vehicle backed by loans to UK infrastructure projects. The CLO was established to finance infrastructure assets developed under PPP and private finance initiative (PFI) schemes.

Aviva Investors has been associated with the vehicle for more than a decade, having invested in its senior notes since 2013. The acquisition therefore builds on an existing relationship and gives Aviva Investors greater control and exposure to a portfolio of infrastructure-backed debt. The deal forms part of Aviva Investors’ broader push into private debt and infrastructure finance. By acquiring the CLO, the investment manager aims to expand its ability to originate and structure infrastructure debt, including opportunities in the sub-investment-grade segment.

The transaction also reflects Aviva Investors’ ambition to develop the infrastructure CLO market in the UK and continental Europe. The firm sees securitisation as a way to scale infrastructure lending and create additional investment products for institutional investors.